Targus has today released a novel new accessory for the iPad that allows you to produce handwritten notes or drawings using a typical paper notepad and have them automatically transferred to the iPad.

The accessory is called the iNotebook and consists of a Bluetooth receiver and pen that detects and records your every stroke. The receiver attaches to a standard notepad allowing you to write as normal. The pen movement is detected by the receiver and your actions recorded. A free app available from the App Store then allows you to transfer the recorded information to your iPad for safe keeping.

Once your notes have been transferred to the app you can email them or store them on iCloud as a backup. Both the pen and the receiver can be stored away in the supplied leather portfolio case which also has room for a notepad.

Targus believes the iNotepad could be really useful in meetings or lectures as it gives you the freedom to scribble down pages of notes on standard paper, which is probably much quicker than writing on a tablet’s touchscreen. However, the pen does act as a stylus too, so you do have the option to write directly on the screen as well if you prefer.

The one aspect of iNotebook that may put a lot of people of picking it up is the price. At $149.99 it isn’t cheap for what is effectively a notes transfer system. However, if you prefer to handwrite your notes, and would benefit from quick and easy backups, the iPad peripheral may be worth the investment.

The idea behind the iNotebook is very similar to what Wacom has done with the Inkling, which turns paper sketches into digital artwork. The main difference here is the inclusion of the iPad. For an extra $50 the Inkling saves your notes and sketches in a range of different formats that can be exported directly into popular editing packages such as Photoshop or Illustrator. It’s worth investigating both options before deciding to buy.

Check out the iNotebook prototype Targus was showing off at CES earlier this year: